The fillings & toppings market is estimated to be valued at USD 8.87 Billion in 2016, and is projected to grow at a CAGR of 5.63% from 2016 to 2022.

The years considered for the study are as follows:

Base year: 2015

Estimated year: 2016

Projected year: 2022

Forecast period: 2016 to 2022

Objectives of the study are as follows:

To define, segment, and measure the market based on its type, application, form, flavor, and raw material

To provide detailed information regarding the crucial factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)

To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contribution to the total market

To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

To project the size of the market, in terms of value (USD million), in the four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW) which includes (Latin America, Africa, and the Middle East)

To strategically profile the key players and comprehensively analyze their ranks and core competencies

To analyze competitive developments such as acquisitions, expansions, new product launches, partnerships, agreements, and collaborations in the market

Research Methodology

This report includes estimations of market sizes in terms of value (USD million). Both top-down and bottom-up approaches have been used to estimate and validate the size of the fillings & toppings market and of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market share in respective regions has been determined through primary and secondary research. such as the Food and Agriculture Organization (FAO), the U.S. Food and Drug Administration (FDA) and, the European Food Safety Authority (EFSA) All percentage shares, splits, and breakdowns have been determined using secondary sources, such as reports published by associations and industry bodies.

The fillings & toppings market is projected to grow at a CAGR of 5.63%, in terms of value, from 2016 to reach a projected value of USD 12.33 Billion by 2022. The market is driven by the demand from Asia-Pacific countries, particularly India, China, Japan, and Australia & New Zealand. The market is highly impacted with the increase in size of confectionery and bakery industries and rise in disposable income & urbanization.

The global market has been segmented by type, into syrups, pastes & variegates, fondants, creams, fruits & nuts, and sprinkles. Fruits & nuts have emerged as the most widely used fillings & toppings due to their wider application areas such as bakery products, confectionery products, and dairy products & frozen products.

Based on flavor, the fruit segment accounted for the largest market share in 2015. The demand for fruit flavor fillings & toppings is higher in developed countries such as the U.S. due to increased health awareness among consumers. Fruit flavor provides a fresh taste with a bright color, lush texture, and attractive appearance.

The global market has been segmented on the basis of application into confectionery products, bakery products, dairy products & frozen desserts, beverages, and convenience foods. The confectionery products application segment accounted for the largest market share in 2015. The factors which are influencing the growth of confectionery products are innovative products with distinct flavors, taste, and colors; and increased usage of natural ingredients in confections.

The European region accounted for the largest share, in the global fillings & toppings market, in 2015. Niche consumers, developed technologies, and global industrialization are the major factors driving the market in the region. The rise in population, per capita income, buying power of population, and rapid growth in technologies lead to growth opportunities for filling & topping manufacturers in Asia-Pacific and RoW regions.

Strict regulations imposed by different government agencies and lack of a uniform regulatory structure are the factors restraining the global fillings & toppings market. Moreover, the rise in health concerns of consumers and increase in demand for clean/natural label products also pose challenges to the filling & topping manufacturers.

The leading players that dominated the market include Cargill (U.S.), Archer Daniels Midland Company (U.S.), Barry Callebaut (Switzerland), Tate & Lyle PLC (U.K.), AGRANA (Austria), and Associated British Foods plc (U.K.). The key players have been exploring the market in new regions by adopting acquisitions, expansions, new product launches, agreements, partnerships, and collaborations as their preferred strategies. Key players have been increasing their technical expertise through intensive R&D investments enabling them to enhance their product offerings and capture a larger market share, thus increasing the demand for fillings & toppings.

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